SHOPPING centre owner Hammerson said its sites were defying the downturn after a rise in footfall and below-average vacancy rates.
The group, which part-owns Brent Cross in London, the Bullring in Birmingham and Reading’s Oracle centre, said the UK’s recent wave of retail administrations was having “little impact” on its business.
It reported a retail vacancy rate of below 3% compared to a market average of 12% and said footfall was up by 2.6% at its UK shopping centres, against a wider industry benchmark of 0.9%.
Chief executive David Atkins said: “Our regionally dominant shopping centres and convenient retail parks are trading ahead of national benchmarks and continue to attract successful retailers.”
